Allianz Asset Management GmbH Reduces Holdings in CNO Financial Group, Inc. (NYSE:CNO)

Allianz Asset Management GmbH lessened its position in CNO Financial Group, Inc. (NYSE:CNO) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,731,691 shares of the financial services provider’s stock after selling 10,530 shares during the quarter. Allianz Asset Management GmbH owned 1.54% of CNO Financial Group worth $48,314,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNO. Principal Financial Group Inc. lifted its stake in CNO Financial Group by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 2,226,375 shares of the financial services provider’s stock worth $62,116,000 after purchasing an additional 76,514 shares during the last quarter. AQR Capital Management LLC boosted its holdings in CNO Financial Group by 13.9% during the 3rd quarter. AQR Capital Management LLC now owns 2,189,796 shares of the financial services provider’s stock valued at $51,964,000 after acquiring an additional 266,945 shares during the period. Massachusetts Financial Services Co. MA grew its position in CNO Financial Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,838,581 shares of the financial services provider’s stock valued at $43,630,000 after acquiring an additional 22,012 shares during the last quarter. American Century Companies Inc. lifted its position in shares of CNO Financial Group by 10.2% during the third quarter. American Century Companies Inc. now owns 1,350,120 shares of the financial services provider’s stock worth $32,038,000 after purchasing an additional 125,047 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of CNO Financial Group during the fourth quarter valued at $26,295,000. 95.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of CNO Financial Group from $26.00 to $27.00 and gave the company an “underperform” rating in a report on Wednesday, February 28th. Piper Sandler raised CNO Financial Group from a “neutral” rating to an “overweight” rating and set a $29.00 price objective on the stock in a research note on Tuesday, April 16th. Royal Bank of Canada raised their price objective on CNO Financial Group from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, StockNews.com cut CNO Financial Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.50.

Insider Activity

In other news, EVP Yvonne K. Franzese sold 7,214 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $27.43, for a total transaction of $197,880.02. Following the transaction, the executive vice president now directly owns 46,632 shares of the company’s stock, valued at $1,279,115.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Yvonne K. Franzese sold 7,214 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $27.43, for a total transaction of $197,880.02. Following the transaction, the executive vice president now directly owns 46,632 shares in the company, valued at approximately $1,279,115.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gary C. Bhojwani sold 20,200 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $27.31, for a total value of $551,662.00. Following the completion of the sale, the chief executive officer now owns 293,802 shares of the company’s stock, valued at $8,023,732.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,558 shares of company stock worth $4,774,481. Corporate insiders own 3.00% of the company’s stock.

CNO Financial Group Stock Up 0.3 %

CNO stock traded up $0.07 during trading on Thursday, hitting $27.68. 21,284 shares of the company’s stock traded hands, compared to its average volume of 729,874. The firm has a market capitalization of $3.00 billion, a P/E ratio of 8.05 and a beta of 1.03. CNO Financial Group, Inc. has a 1 year low of $21.52 and a 1 year high of $29.09. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $27.16 and a two-hundred day simple moving average of $26.98.

CNO Financial Group (NYSE:CNO) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $935.76 million. CNO Financial Group had a net margin of 9.07% and a return on equity of 16.77%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. Sell-side analysts anticipate that CNO Financial Group, Inc. will post 3.08 EPS for the current year.

CNO Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.31%. This is a positive change from CNO Financial Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, June 10th. CNO Financial Group’s dividend payout ratio is presently 17.49%.

CNO Financial Group Company Profile

CNO Financial Group, Inc, through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for senior and middle-income markets in the United States. It offers Medicare supplement, supplemental health, and long-term care insurance policies; life insurance; and annuities, as well as Medicare advantage plans to individuals through phone, online, mail, and face-to-face.